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HMV sales dip

Irish sales at HMV and Waterstone's stores dropped by up to 13pc within the year.

The British group Waterstone's recorded a fall in sales to €1.5m overall. HMV Ireland sales fell to just under €70m, while sales at the bookstore branch dropped back to €24m in the year. Overall operating profit fell to €0.7m from €2m.

Despite the fall in profit, the directors said that the company traded successfully in the year to April 25, 2009. The directors recommend that no final dividend be declared and that the profit be transferred to reserves, according to accounts just filed.